Optimismistic Measures Expected from this Union Budget
Optimism on account of projected private investment in the eco survey, will help reach the projected economic growth
Union Finance Minister Arun Jaitley establishes the tone for the Union Budget by tabling the economic survey in Parliament, . The Economic Survey projects the official version of the state of the economy; it was presented in the Parliament today, a day before the presentation of the annual Budget. It sets the border counter of the economic policy of the country.
Industry players from different sectors welcomed the optimism shown by the survey, while raising concrete demands for their respective sectors, to realise the desired economic growth at the rate of 7-7.5% of GDP in FY 2018-19.
Desi Valli, founder and CEO of Netree,emphasised, “With the increased push to digital transactions and ease of doing business, the retail industry will have a robust growth and bright future. A mention about the optimism on account of private investment, in the economic survey 2018, is a positive projection for the retail industry.” Netree, India’s leading retail engagement platform and the world’s first connect-engage-promote-transact platform for retailers, has high hopes on account of projections vis a vis investments, as funding is the lifeblood of start-ups.
Speaking on the agriculture growth and retail connect, Desi said, “As more than 90% of the retail business is still in the hands of ‘small’ retailers, the reported good agricultural growth will provide a boost to GDP.” Desi appreciated the government’s move to keep the fiscal deficit at a moderately low level.
In a reference to key interest rates, Desi raised concern by saying, “August survey had stated that there was considerable scope for monetary policy easing. However, the RBI did not ease the lending rates. As the retail industry needs easy credit for expansion and growth, the concerned authorities must review the lending rates.”